Malaysian Ringgit Rises for Fifth Day

Malaysian Ringgit Rises for Fifth Day

Malaysia’s ringgit rose for a fifth day, the longest winning streak in eight weeks, on speculation global funds will pump more funds into the nation’s assets as the economy sustains its recovery.

The currency climbed to its strongest level in more than a week after an Oct. 7 report showed exports rose in August at the fastest pace in four months and Prime Minister Najib Razak said economic growth may quicken in 2012.

The ringgit tumbled 7 percent in September, its worst performance since 1998, as Europe’s debt crisis spurred demand for dollars. German Chancellor Angela Merkel said yesterday European leaders would ensure banks have adequate capital.

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